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Why You Should Make Your First Price Offer Very Specific
It’s well known that you get an advantage by making the first move in a price negotiation: If you’re the seller, for example, and you offer a price before the buyer does, a higher quote from you will lead to a significantly higher agreement price. But you can increase that advantage by stating your offer as a precise, rather than a round, number, says a team led by David D. Loschelder of Saarland University in Germany. In an experiment involving customers in an antique shop, when a 1910 oak writing desk from the Jugendstil period was offered for €1,185, the average agreement price was €1,046.19; if the opening offer was €1,200, the final price was just €929.50 (customers didn’t actually buy the secretaire; they were simply asked to settle on a price).
SOURCE: “€14,875?!”: Precision Boosts the Anchoring Potency of First Offers
Close More Sales
No matter how great your services and products are, they cannot benefit the world if you don’t sell them.
Adding a list of services and products on a website and hope people will come is just foolish.
Take also in consideration that your best sales will be in person, either on a conversation , on stage or on the phone.
If you struggle to get people to say yes, you need to fine tune your sales strategy.
We are all in the business of generating sales. Marketing and sales are not the same thing and marketing only without a sales strategy will not lead to good results.
Possessing certain skills, especially the critical skill of knowing how to sell, increases the odds that your business will thrive.
Every move you make and everything you say either attracts people toward you or repels them from you. Details when selling count a lot.Let’s create your own sales process, presentation or class. Together we’ll use the best in new sales strategies and NeuroMarketing.
Together we create the sales presentation you’ll use over and over again. Learn it once and use it for the life of your business.Best of all, you won’t have to be pushy.Here is what we’ll cover:
- Selling blocks & emotional issues
- Establish, create and deliver the right impression instantly
- How to differentiate your offer.- Deliver clear, memorable messages
- Develop a practical sales process for your unique business that increases revenue
- Identify and eliminate the common mistakes that are costing you sales, time and energy
- Attracting high-quality clients who can afford your services
- Asking for the sale without coming across as pushy
- Hit the buy button on your prospect’s brain
- Communicate in a clear concise way
- Effortlessly follow-up
Contact me for a initial consultation: 801-842-9765 or buzz@buzzbooster.com
Marketing that didn’t miss a beat during the super Bowl Blackout
Did you watch the Super Bowl? Since every one out of two Tvs where on the Super Bowl, I bet you did.
Did you see when the lights went out? What did you do during that time?
Some companies didn’t miss a beat and found a out of the box opportunity to promote themselves.
They went to Twitter. Twitter says there were 24.1 million tweets sent about the football game and halftime show on Sunday night. The largest spike was during the power outage, when Twitter saw 3,858 tweets per second. Some perspective: Five years ago, at Super Bowl XLII, the highest spike was 27 tweets per second.
So during those 35 minutes here is what some companies Tweeted:
Oreo: Tweeted 10 minutes into the black out: The ad said: Power out? No problem. You can still dunk in the dark.
That post was re-tweeted 14,600 times as of Monday morning. It received more than 20,000 “likes” on Facebook.
Tide was also fast and released the ad: “We can’t get your blackout. But we can get your stains out,” Tide tweeted, earning about 1,300 retweets.
Walgreens told its followers that “we do carry candles,” a sales pitch retweeted more than 3,300 times.
PBS: This might be a good time think about alternative programming. #SuperBowlBlackOut #WeHaveDowntonPBS This one tweeted more than 3,500 times.
And there were others.
This is brilliant not because these are brilliant ads, but because they realized people were paying attention to the black out and talking about it and these companies managed to join the conversation already going on in the mind of the prospect.
Clever way to get a lot of attention. This is what I call Neuro- Magnetism: You use your brain to join the brain of the consumer in a subtle and effective way.
Every one that you interact with has a conversation already going on and it is up to you to see that and join this conversation instead of trying to divert this attention to something else. A lot less work and much more traction.
When you see an opportunity surface, like these companies did with the black out, run and take action. Speed to market is crucial at these times. Not a lot of thinking, do it.
Neuro Magnetism Tip
Here is a tip to make you more attractive to your audience and get more attention:
Our brains are wired to respond to motion – in prehistoric times, movement might be a threat, or perhaps food. Whether you are presenting to a group, selling one-on-one, or designing a TV commercial, use motion to grab the attention of your audience and focus it where you want it.
What are your Sales Channels?
It is common to be talking to people about business and hear them say they are not selling enough even though they are marketing all the time.
It inspired me to write this post because I see simple mistakes that entrepreneurs make when selling that impacts a lot how much money they could be bringing in.
- 1. Marketing and selling are not the same thing. When you are posting on social media sites like Facebook and Linkedin several times a day you are marketing not selling. You need specific sales actions- actions that make people purchase something.
If you post something with link offering some value that would lead to a sale, then it is another story.
- For example: You create a report on one topic where you have a specific call to action for them to acquire a service and you offer this free report to your list – will generate sales.
When you have some specific sales actions, they need to be reliable, you need to be sure they can generate sales. Branding yourself in social media sites is good for, well, branding, but it is not a reliable way to make sales.
So the key point here is to ask yourself every time if it is a reliable sales method, if it is something you can track conversion.
Maybe you are like me, I’m not into numbers. I’m a creator. Checking numbers and tracking how my sales efforts are converting is not something I used to enjoy. But it is crucial if I want to succeed.
- Tradtional media is easier to track but it does not mean you cannot track sales efforts online. Even on webinars today you can do AB split testing sending participants to different sales letters. It may be a bit more work but it will open your eyes on what is working and what is not.
- You need to know what your sales channels are. I see a lot of people that have no idea and again they think everything they do in marketing leads to sales.
- Follow up, follow up, follow up. I talk to online and offline businesses everyday and am really impressed at the percentage that does not have a proper follow up strategy. Around 90% my friend. Some have some auto-responder messages in place which is good. The bad part is that they think this is all they should be doing when it comes to follow up. You can increase your conversion by 50% just by doing proper follow-up.
- People that bought from you before are the ones that are more likely to purchase again from you. They already know you and trust you. Stop the madness of always going after new leads and create a process to generate specific offers to those that haven’t purchased anything from you in the last 6 months. Here we call the Wake the Zombies campaign.
- Make a goal to sell something everyday. It doesn’t matter the price point. What matters is the habit. It is very easy to get lost in marketing, because it can be fun and gives you the sense of being busy than to make specific efforts on selling.
- Make a goal to send some ships every day. At the end of the day here at BuzzBooster we ask each other: How many ships have you sent? This means, what have you done to generate sales today or tomorrow. The idea behind this is that in order to have fish on their tables, fishermen have to send the ships out to sea. No ships, no fish. Got it?
Here you find a chart of what I take as sales channels and that we use to get ideas on the ships we send.
| Online sales | Offiline sales |
| optiin- report-sales | direct mail |
| opt-in video sale | eddm |
| ppc | networking |
| facebook ads | speaking gigs |
| FB promoted posts | workshops and presentations |
| banner to sales | cold call |
| webinars- teleseminars | cold calls |
| e-mail marketing | referral program with existing clents |
| Private hangouts | campaign for inactive customers |
| affiliates | postcards to neighborhood |
| jvs | Newspaper ads |
| clickbank | magazine ads |
| launches | radio ads |
| Amazon- kindle, products and audio | live events |
| telesumits | |
| PPC on specific sites like Plenty of fish | |
| newsletter ads | |
| Blog |
Do you have any others?
A business thought
You cannot become irresistible to your market if you don’t focus on the way you deliver your services.
Every touch point with customers and prospects, every detail before, during and after the sale.
Pay attention to these details and you will see more results
Strategy Sessions that Convert Well
The number one thing we hear from prospects, specially coaches and consultants is that they give those free strategy sessions and have a very hard time converting that prospect into a client. They then go on to blame people for not having money to buy or whatever it is they are doing to market those strategy sessions.
While the quality of the prospect you attract is a key factor, 99% of the time is your sales process that is not structured enough and simple mistakes done during the negotiation.
There are several ways to fix this and over the years we have a process that works really well.
Specially for 1 on 1 negotiations.
We have explained this in dept here. How to close more sales.
Sales Strategies for the New Economy
We dedicated a few episodes of BuzzBooster TV to talk about sales strategies.
In this episode we cover negotiation skills and how to find the broken windows.
In order to achieve long lasting prosperity as a small business owner you need to understand and master sales.
Watch BuzzBooster TV by clicking here
Sales Strategies for the New Economy
I don’t need to tell you that things have changed a lot. Markets have changed and the way the consumer buys has changed a lot in the last few years.
There is extreme importance in revisiting your sales strategies and align them with this new consumer. As a small business owner you need to understand that creating a structured sales process and improving your negotiation skills is crucial in your small business marketing strategy.
Most of the time you are more resistant to sell than the client to buy.
It is a lot about psychology and not about sales tricks.
There needs to be a design of the sale you can apply anywhere and become a master negotiator.
I want to share with you a system I’ve created to increase conversion in any type of selling. It is based on psychology and consumer behavior and I’ve tested several times in one on one negotiations, over teleseminars and on stage.
It goes through 5 steps where you can choreograph your negotiation:
1.Find the broken windows: This principle comes from the New York police where they look for homes with broken window because they show there is a problem there. We need to allow prospects to unveil their problems. This step decreases anxiety, shows where the problems are so we can pin point the core points.
2. Join and conduct the Tango: Prospects already have a conversation going inside their minds. This conversation tends to carry a lot of drama and fear. It is up to the negotiator to join this conversation, create rapport and conduct the dance.
3. Incorporate mystery and rituals: (we need some level of tension around their needs). Remember that the brain cannot cope with an unanswered question, this creates traction. Rituals like simple things as having them fill a questionnaire before talking to you not only inverts the relationship, where you are not the sales person anymore, it also shows there is structure.
4. Extract the Wow: show the possibilities. If you have ever watched a n infomercial; you know what I’m talking about. Any sales negotiation needs to have its wow moment where the prospect thinks “I need this guy” “How did I survived without this product?”
5 Tie the knot: Don’t forget to propose. close. partnership from the beginning regardless the amount. They ask you to marry: Now it is the time to ask: how do we work together?
Having a structured sales and negotiation process is part of a smart small business marketing strategies. No one wants a person that talks non stop and pushes a product or service.
It is up to you to have these steps in mind, get a pen and paper and outline in your case how you would incorporate them when you are negotiating.
Think that you are building a graph in the process where the WOW factor is on top and from there you just keep the dialogue going and conduct them to ask to buy.